The values of fleet and lease vehicles saw an increase of £69 through January 2019 and a 6.7% (£730) rise compared to January 2018 according the the British Car Auctions (BCA). As of February 2019, fleet and lease values averaged £11,522.
The average mileage fell by over 1,500 miles compared to one year ago, while average age at time of sale rose to 39.7 months. Retained value against original MRP improved to 44.04% - three-quarters of a point.
The latest report from BCA showed that overall, average used car values improved in February 2019 by 3.3%. That’s a rise of £322.
Reflecting the increased values for fleet and lease and dealer part-exchange vehicles, the headline figure of £9,798 is the fourth highest on record. Year-on-year, the headline value lifted by 3.1%.
February 2019 saw sustained demand for nearly-new vehicles at BCA, with values rising to £23,084 during the month. Compared to the same month last year, values were up by £3,333 (16.8%).
COO of BCA UK Remarketing, Stuart Pearson, commented on the report: “Since the turn of the year we’ve seen good demand from buyers for vehicles that are accurately priced and with good provenance. The focus has definitely been on quality, value and the ability to turn stock quickly.
“BCA has seen a long-term evolution in average used car values across the board which reflects both the wide choice and excellent quality of stock we offer on behalf of our vendors and the consistent demand from professional buyers to meet their retail needs.”
